The ICE Formula: Channel 7 TV, Kochie’s Business Builders

Nick Brogden, the founder of Earned Media shares advice for brands to prioritise marketing efforts using the ICE formula: Impact, confidence, and ease. The video is one of his Tech Tips for this season’s Kochies Business Builder on Channel 7.

Video transcript

Hi everybody. Here’s my advice on how to prioritize your marketing efforts and scale your business through something called growth hacking.

Growth hacking is a form of marketing where you work out a singular goal and then if you can achieve that goal, by default you’ll grow all the metrics in your business. This goal is called your north star metric.

And once you’ve worked out what that is, you can prioritize all marketing efforts and even business processes based on achieving that singular goal.

To do this, we use a process called the ICE spreadsheet. ICE is an acronym for impact, confidence and ease.

Now the impact is if you were to actually proceed with this idea really well, how much would that increase the metric?

Confidence is how confident are you that you’ll actually be able to achieve the goal? How confident are you that an idea will work?

And then ease is the ease of implementation. So how hard or easy is it to actually do this idea to make this work, to achieve your goal?

You then have a brainstorming session and put all of your marketing ideas and business process concepts into a spreadsheet.

Score them all. Generally one to five is a good way to go.

So then you score by the three metrics out of five, get an average score, then sort the spreadsheet by the score and you’ll actually have a list of what’s most important to work on.